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lovedebrap11ih4
26.02.2020 •
Business
During year five, estimated tax payments of$225,000 were paid and debited to prepaidtaxes. There were no differences betweenfinancial statement and taxable income for yearfive.Included in accounts receivable is $400,000due from a loyal customer. Special terms weregranted to this customer to make payments of$100,000 semi-annually every March 1 andSeptember 1.In JB Company's December 31, year fiveBalance Sheet, what amount should bereported as current assets?
a. 710,000
b. 910,000
c. 935,0001,
d. 135,000
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Ответ:
a. 710,000
Explanation:
Current assets are calculated as follows:
Cash: $185,000
Accounts receivable, net $725,000
Recall that a loyal customer is to make semi-annually payments of $100000 into to the tune of $400,000 accounts receivable. For the year five balance sheet, the reclassification of o/s receivable will therefore be $200000
Therefore Total current assets = $185,000+ $725,000 - $200000 = $710,000
In JB Company's December 31, year five Balance Sheet $710,000 should be reported as current assets.
Ответ:
(a) 12.26037049%
(b) 15.34868967%
(c) 17.9626%
Explanation:
(a)
=![RATE(12\times 25,PMT(\frac{8.5 \ percent}{12} ,12\times 25,1\times 90 \ percent)-PMT(\frac{8 \ percent}{12} ,12\times 25,1\times 80 \ percent),1\times 90\ percent-1\times 80 \ percent)\times 12](/tpl/images/0806/9672/f52a4.png)
=
%
(b)
=![RATE(12\times 25,PMT(\frac{8.5 \ percent}{12} ,12\times 25,1\times 90 \ percent)-PMT(\frac{8 \ percent}{12} ,12\times 25,1\times 80 \ percent),1\times 90 \ percent\times (1-2 \ percent)-1 \times 80 \ percent)\times 12](/tpl/images/0806/9672/8a8bc.png)
=
%
(c)
=
=
%
Note: percent = %